Guides and updates on trucker taxes, Form 2290 HVUT, IFTA filings, business expenses, and financial tips for owner-operators.
Why this matters to fleets and owner-operators Getting Section 263A (UNICAP) right is a cash-flow and compliance issue. The rules tell you which direct and indirect costs tied to inventory or self‑constructed assets must be capitalized instead of expensed now.…
Pick the right IRS return for your business Sole proprietors (including most one‑truck owner‑operators and single‑member LLCs taxed as disregarded entities) typically file Schedule C with Form 1040. Partnerships (including most multi‑member LLCs) file Form 1065, and S corporations file…
Why this matters now A recent blog post making the rounds claims the IRS is paying “millions” to insiders who report tax fraud and name-checks trucker-specific issues like the Heavy Highway Vehicle Use Tax (HVUT). While that post mixes some…
What “1099” really means in trucking When a carrier pays you on a 1099, it’s classifying you as an independent contractor, not an employee. That means you run your own business, shoulder your own costs, and pay both sides of…
What’s happening Several California trucking companies have recently shuttered operations, sending a clear warning to owner-operators and small fleets: thin margins, soft demand, and stubbornly high operating costs are creating a hazardous market. After two years of normalization following the…
Nikola Corp. has reached an agreement with the U.S. Securities and Exchange Commission over how to treat roughly $83 million remaining from the electric truck maker’s 2021 civil penalty, clearing a key hurdle as the company’s Chapter 11 liquidation plan…
